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Michelin expands logistics base with €7 mln investment

French tire producer Michelin announced that it is expanding its logistics base in Vác, near Budapest, for €7 million, turning the base into one of Michelin’s European distribution centers, unit head Róbert Szabó told Hungarian news agency MTI late yesterday.

The expanded center will manage deliveries to 15 countries in Central and Southern Europe as of the end of 2016, receiving tires from more than thirty European factories, Szabó said, according to MTI.

The expansion, which includes the construction of a new office and increasing the size of the base from 20,000 sqms to 30,000 sqm, is expected to be completed next year, the head said.

Michelin Hungária Abroncsgyártó had revenue of HUF 247 billion in 2014, MTI reported.